By Paul Bubny with Connect Media
Increased demand for suburban housing will support property values in the outlying sectors around Greater Houston and other Texas cities, said Houston-based valuation firm Deal Sikes.
“Corporate workplace trends, such as working-from-home, have energized the suburban housing markets,” said Mark Sikes, principal with Deal Sikes. Even employees who will work-from-home only one or two days a week in the future are more open to suburban and exurban living.”
Over times, Sikes said, “attitudes about long commutes will change and homebuyers will respond by moving farther out.”
Community developers and home building firms show increased appetite for lots and developable land in counties surrounding Houston, said Sikes.
“Suburban housing growth is establishing a future market for retail development in the long-term,” he said. “Current market conditions have placed pressure on retail, but as population growth continues in outlying areas, the retail market will regain momentum for new suburban development.”
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